There's a lot of confusion about whether or not filing a claim will cause your home insurance rates to go up. In some cases, homeowners will avoid filing a much-needed claim to keep a "clean" record with their insurance company come renewal time.
It's a valid question, as no one wants to see their rates increase after something unfortunate happens. Our public loss adjusters clear up the confusion and help you understand what happens when you file a claim. We'll also provide some tips on how to prevent your home insurance rates from going up, so stick around until the end!
I Have a Claim. Will My Rates Increase?
When you file a claim, your insurance company will investigate the incident to determine whether or not it was caused by something that is covered under your policy. If they determine that the incident was indeed covered, then your rates will not go up as a result of filing the claim. In fact, most insurance companies will even forgive one claims-free year when you do have to file a claim.
However, if the insurance company finds that the incident was caused by something that is not covered under your policy or something fraudulent then your rates may go up.
This is why it's important to know what is and isn't covered under your insurance policy, and to make sure you're not taking any unnecessary risks that could lead to an increase in rates.
Property Damage: What to do Next?
When you experience a property loss, it can be difficult to know what to do next. Filing a home insurance claim is often the first step that comes to mind, but before you do that, you'll want to contact a public claims adjuster.
Here are a few ways Liberty Adjusters can help you get the maximum possible for your repairs:
We have a thorough understanding of your policy, so we can help you determine if your loss is covered.
Public adjusters manage the entire claims process for you, so you can focus on more important things.
We can get you a higher settlement than if you had filed the claim on your own.
Read More > Why You May Regret NOT Hiring a Public Adjuster
Before You File, Call Liberty Adjusters.
Keeping Your Rates Low
There are a few things you can do to offset your home insurance rates in the case that they increase after you file a claim. First, be sure to shop around and compare rates before renewing your policy. If you find a better rate with another company, you can switch and save money on your premium. Just be sure there won't be a lapse in coverage!
You can also ask your insurance agent about discounts that may be available. We don’t suggest accepting rate discounts on important coverage like water or your roof. But, many companies offer discounts for things like installing security features, being claims-free for a certain period, or bundling your home and auto insurance with the same company.
Finally, be sure to stay up-to-date on your home's maintenance. This will help you avoid any future claims that could cause your rates to go up. Regularly check for things like leaks, cracks, and other damage, and make repairs as needed. By taking these preventative measures, you can help keep your home insurance rates low.
If you have any questions, be sure to contact a reputable public adjuster for help, like us here at Liberty Adjusters.
Support Throughout an Insurance Claim
Filing a home insurance claim will not automatically increase your rates, but there are some circumstances where it could. However, you can prevent this by working with a public adjuster and making sure you understand what is and isn't covered under your policy.
If you have any questions about filing an insurance claim, or if you need help filing a claim, contact Liberty Insurance Adjusters today. We will walk you through the entire claims process, having your best interest along the way.